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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: Earlie who wrote (172417)	6/13/2002 9:45:00 AM
From: robnhood	Read Replies (1) of 436258

Chagrined << (Call Us: 201-938-5299; All Times Eastern) 9:27 (Dow Jones) UBS Warburg defends IBM's strategy and maintains its EPS estimates, strong buy and $120 price target. "We are chagrined that anyone would view the spinoff of the hard-disk drive business in anything but a positive light from a strategic, fundamental and accounting perspective." Analyst Don Young adds that IBM should be praised for its greater accounting disclosure, especially "considering how other companies questionable accounting procedures seem to go unchecked - such as the revenue recognition procedures of indirect PC players." (GS)

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